What are the economic impact of floods?

What are the economic impact of floods?

He noted that tangible losses caused by flooding are damages which can be quantified in monetary terms, and include: loss of cattle and livestock, destruction of personal property, loss of earnings and services, loss of growing and pre-harvest crops in agricultural fields, reduction in property values, collapsing of …

What are the effects of flood in Pakistan?

According to the FAO agricultural assessment report the floods caused damages of unprecedented scale to agriculture crops, livestock, fisheries and forestry and destroyed primary infrastructure such as tube wells, water channels household storages, houses, animals sheds, personal seed stocks, fertilizers and …

How and why may the economy of the area be affected by flooding in Pakistan?

The floods have severely damage the wheat production which is one of the chief crops of Pakistan. Pakistan’s foreign exchange reserves would severely be affected, since the major contributor to export sector of the economy has faced damages in the form of crops of cotton, sugarcane, rice and maize.

What is the economic cost of floods?

In 2020, floods caused over one billion U.S. dollars worth of property and crop damage across the United States.

How can floods affect the ecosystem?

In fact, some ecosystems rely on seasonal flooding to drive ecological processes. Flooding can have a negative effect on wildlife, causing drowning, disease proliferation, and habitat destruction. Unpredictable floods can be harmful even to aquatic life. For example, fish can be displaced and their nests destroyed.

What are the causes of floods in Pakistan?

These floods are caused due to several reasons; heavy rains, river overflows, strong winds and tides in coastal areas, dam breakage or ice-melting among others.

How does floods affect social economic and environmental?

Floods have large social consequences for communities and individuals. As most people are well aware, the immediate impacts of flooding include loss of human life, damage to property, destruction of crops, loss of livestock, and deterioration of health conditions owing to waterborne diseases.

What did the 2008 floods reveal Pakistan’s problems?

The World Bank and Asian Development Bank have estimated that the flooding has caused $9.7 billion in damages. Approximately 2000 people were believed to have been killed by the flooding. One fifth of the country was submerged, and an estimated eight million Pakistanis were displaced from their homes.

What are the economic impacts of tornadoes?

The impact of a tornado results in both direct and indirect losses to the local economy. Direct losses result from the destruction of assets from the initial impact of the tornado and include the loss of human lives, roads, power, phone lines, crops, factories, homes, and natural resources.

What damage does flooding cause?

Loss of Critical Infrastructure Large debris and floodwaters can cause structural damage to bridges and roadways, making travel impossible. Power, telephone, and cable lines can be taken out by flash floods as well. Flood waters can disrupt or contaminate ground water, making tap water unfit for consumption.

What were the impacts of the Pakistan floods in 2010?

The 2010 Pakistan floods directly affected an estimated 14-20 million people, and killed over 1,700. Nearly 1.1 million homes were damaged or destroyed, and at least 436 health care facilities were destroyed.

Why floods occur in Pakistan and in which areas?

The floods in Pakistan began in late July 2010, resulting from heavy monsoon rains in the Khyber Pakhtunkhwa, Sindh, Punjab and, Balochistan regions of Pakistan, which affected the Indus River basin. The Pakistani economy was harmed by extensive damage to infrastructure and crops.

How will the floods affect Pakistan’s economy?

Deep Damage to Frail Pakistani Economy The Sydney Morning Herald’s Matt Wade writes, “The worst floods in Pakistan’s history are devastating its already fragile economy, adding further instability to the troubled nation. The biggest city and commercial hub, Karachi, is in danger of being hit by the floodwaters.

What is the economic impact of crop damage in Pakistan?

Pakistan’s Ministry of Food reported that economic losses due to crop damage of rice was PKR21.3 billion, of sugarcane was PKR52 billion to over 80,000 hectares, PKR22.4 billion of maize, PKR17.3 billion of wheat stock after damaging over 667,000 tonnes and PKR45 billion to fruits, fodder and vegetables.

How much of Pakistan’s economy is dependent on agriculture?

23% of Pakistan’s economy is dependent on agriculture and at least 44 percent of the work force is employed in agriculture-related work. There was fairly negative impact on the projected 2010 GDP growth due to drop in the agricultural production. According to an estimate from the Ministry of Food]

How did the 2010 flood affect the income of flood victims?

The flood put a negative effect on the income level. Mostly the flood victims already have low income. When flood hitted then their source of income lost. As a result of 2010 flood the households whose livelihoods were most affected have the lowest levels of income.